On 15 Sep 2016, the Ministry of Manpower (MOM) released the quarterly Labour Market report. I’m not going to reiterate the statistics but will highlight these important points:
- Unemployment rose further among residents aged 30 and above
- For those aged 50 and above, unemployment rose for the fifth consecutive quarter
- Unemployment rates among degree holders rose to their highest level since 2009
- Highest second quarter redundancy since 2009
Professionals, Managers, Executives and Technicians (PMETs) like us should monitor the local labour market to pick up on trends like that. If the above does not light a fire under your ass to get your finances in order, then I guess only becoming one of those unemployment and redundancy statistics will.
It’s easy to become complacent in our jobs. The Singapore Government keeps going on about transforming the country’s industries, creating higher quality jobs and helping displaced workers through programmes such as SkillsFuture. These initiatives require …